SMM: according to reports, on October 13, Hyundai Motor began to build an R & D center in Singapore, which will accommodate a small electric car factory.
Singapore's prime minister, Lee Hsien Loong, said at a groundbreaking ceremony that the factory could produce 30000 electric cars a year by 2025, with an estimated investment of S $400m (US $295 million).
A Hyundai spokesman confirmed the target of producing 30000 electric cars a year in Singapore, but said the exact production capacity had yet to be determined. The Singapore plant will use solar and hydrogen energy to achieve carbon neutralization, plans to use technologies such as artificial intelligence and robots, and will build a test-drive runway for consumers, the company said in a statement. Construction of the plant is expected to be completed by the end of 2022.
The Singapore Electric car Centre is part of Hyundai's plan to enable future car buyers to use smartphones to customize and buy cars online for on-demand production.
At present, Singapore is the most expensive country in the world to buy cars, and does not have a car factory. But the country has ambitious plans to phase out gasoline and diesel cars and step up electrification by 2040 to cut greenhouse gas emissions and mitigate climate change.
"the car business will once again become feasible in Singapore," Li said. Electric cars have different supply chains, fewer mechanical parts and more electronics, which can give full play to Singapore's advantages. "
Earlier, Dyson abandoned plans to invest $2.5 billion in electric cars in Singapore in October 2019 because it was unable to make the project commercially viable. Ford also closed its Singapore plant about 40 years ago and stopped car production in the country.
